a family buys a car for $20,000. The value of the car decreases about 20% each year. After 6 yr, the family decides to sell the car. Should they sell it for $4000? Explain
The value of the car after 6 years is given by:
20000(.80)^6 = $5242.88 .... so, selling it for $4000 would be less than what it is worth at that time......
